Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Preparing a Cash Flow Worksheet Taser Corporation's recent comparative balance sheet and income statement follow. Additional information 1. Purchased a plant asset, $96,000; issued common
Preparing a Cash Flow Worksheet Taser Corporation's recent comparative balance sheet and income statement follow. Additional information 1. Purchased a plant asset, $96,000; issued common stock in full payment. 2. Purchased a long-term investment in equity securities for cash, $32,000. 3. Declared and paid cash dividend, $32,000. 4. Sold plant asset for $16,000 cash (cost, $57,600; accumulated depreciation, $51,200 ). 5. Issued common stock, 1,600 shares at $11 per share cash. Required Cash Flow Worksheet Cash Flow Reconciliation b. Prepare a reconciliation of the total of the three sections of net cash flows from operating, investing, and financing activities to the change in cash and prepare the noncash disclosure note. \begin{tabular}{|c|c|} \hline on & Amount \\ \hline t cash provided (used) by operating activities & 10 \\ \hline by investing activities & (16,000) \\ \hline 1) by financing acti & 10 \\ \hline livalents & 39,680 \\ \hline Cash and cash & 62,400x \\ \hline Cash and cash equivalents, December 31 & 10 \\ \hline Noncash Tran & \\ \hline rchase of plant assets with stock & 96,000 \\ \hline \end{tabular}
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started